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AUD relatively stable against the Pound Sterling

Written by Sam Coxhead on December 9th, 2011.      0 comments

This pair has traded a relatively tight range this week. The GBP has started to exert some pressure on the AUD following the ECB comments, that tighter fiscal rules in the EU would not mean they would commit to increased government bond purchases. A consolidated push down through the .6500 level (GBPAUD 1.5385), would open the way for further AUD weakness. Current levels represent reasonably good value buying of GBP with AUD, from a historical perpective.
 
The current interbank midrate is:         AUDGBP .6509                               GBPAUD 1.5363
                                                               
The interbank range so far this week to date has been:                 AUDGBP .6490 - .6591                GBPAUD 1.5172 - 1.5408
 

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